FRIDAY, MARCH 8th, 2019, at 10:00 AM
REINBECK MEMORIAL BUILDING
208 BROAD STREET
LISTING AGENTS: Jeffrey T. Obrecht (515-689-1648)
Joe Sandve w/Ag Land Realty (641-752-4505)
DESCRIPTION: 81 acres m/l to be offered at auction on Friday, March 8th, 2019, at 10:00 A.M. The property consists of a single tract of 81 acres m/l, of which there are 79.1 taxable acres and 72.32 cropland acres. This tract has an average CSR2 of 71.1, with the county average being 87.2 for Grundy County.
DIRECTIONS: From Reinbeck, Iowa, go east on State Highway #175 to Y Avenue, then north on Y Avenue 1 mile to 250th Street, then east on 250th Street ¼ mile, then north on Y Avenue ¾ mile. Property is located straight ahead off of Y Avenue, or from Reinbeck, go north on County Blacktop T-65 to 242nd Street, then east 1.75 miles on 242nd Street. This tract is located on the north side of 242nd Street. Please watch for real estate signs.
LEGAL DESCRIPTION: (81 acres m/l) The North One-Half of the Northwest Quarter (N1/2 NW1/4) lying West of the Railroad in Section Thirteen (13) and the Northeast Quarter of the Northeast Quarter (NE1/4 NE1/4) in Section Fourteen (14), all in Township Eighty-seven (87) North, Range Fifteen (15), West of the 5th P.M., Grundy County, Iowa. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 72.32 acres
Corn Base: 43.10acres PLC Yield: 135 bu.
Bean Base: 26.00acres PLC Yield: 44 bu.
Of the 72.32 crop acres, there are presently 3.13 acres in CRP on two contracts. They are 1.65 acres @ $208.59/yr until 9-19 and one contract of 1.48 acres at @233.60/acre until 9-19. This farm is classified as Non-Highly Erodible Land with no Wetlands Determination complete at this time.
FARM LEASE: Sellers are to retain all of the 2018 cash rent. The farm lease for 2019 has been terminated, with the farm being open for the 2019 crop year.
LISTING #19105 TERMS AND CONDITIONS
SALE METHOD: This property will be sold as a single tract of 81 acres m/l.
IMPROVEMENTS: Improvements include field drainage tile and perimeter fence. This farm has had over 26,000 feet of tile installed since 1966.
MINERALS: All mineral interests owned by the Seller, if any, will be conveyed to the Buyer.
EARNEST PAYMENT: A 15% earnest money payment is required on the day of the auction. The earnest payment may be paid in the form of cash or check. All funds will be held in the named attorney’s trust account.
POSSESSION: Possession will be granted at closing, on or about April 5, 2019. The farm lease has been terminated so possession will be given at closing.
CONTRACT AND TITLE: Immediately upon conclusion of the auction the high bidder will enter into a real estate contract and deposit with Mid Iowa Real Estate, Auctions, & Appraisals the required earnest payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon buyer financing. Seller to pay all escrow closing costs.
CLOSING: Closing will occur on or about April 5, 2019. The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer.
SURVEY: At the Seller’s option, the Seller shall provide a new survey where there is not an existing legal or where new boundaries are created. The Seller will be responsible for any survey costs.
BIDDER REGISTRATION: All prospective bidders must register with the auction company and receive a bidder’s number in order to bid at the auction.
ATTORNEY: Richard Bordwell
SELLER: CSR Farm Associates, Inc
This sale is subject to all easements, covenants, leases and restrictions of record. All property is sold on an “As is—Where is” basis with no warranties or guarantees, expressed or implied, made by the Realtor or Seller. All potential buyers are urged perform their due diligence on the subject property prior to the auction. All map boundaries are approximate, and photographs used may or may not depict the actual property. Total tract acres, tillable acres, FSA acres, etc. are approximate and may be subject to change. All bids will be on a per acre basis. Seller reserves the right to accept or reject any and all bids.
Mid Iowa Real Estate, Auctions, & Appraisals and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer will take precedence over any previous material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.